What the Union Budget 2013-14 has in store for MSMEs

1 Author : February 28, 2013 0

Union Budget 2013 Highlights:

* Start-ups and MSMEs can list on SME exchange without public offering but only after informing invetors

* If an MSME grows into a larger enterprise, no tax for three years after its growth

* Small and medium companies to be allowed to listed on MSME exchange without making a public offer

* Re-financing capacity of SIDBI increased to Rs. 10,000 crore from Rs. 5,000 crore for Ministry of Small and Medium Enterprises

* National Skill Development Corporation to train 5 crore people in current plan period

* To modernize powerloom sector, minister announced technology upgrade scheme for textile sector to get INR 2400 crore

* Youngsters who are skill trained to be given boost in employment and producitvity; 10 lakh youth can be motivated in one year

* To allocate Rs 1000 crore to extend skills of youth

* With help of Ministry of S&T, Centre has identified amazing innovations; will allocate Rs. 200cr to scale them and make them avaiable to people

* Centre has no plans to revise direct tax rates

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